Drift secures Tether funding, pivots from USDC

Decentralized exchange Drift has secured up to $127 million in funding from Tether, marking a significant strategic shift. The platform is transitioning from Circle's USDC stablecoin to Tether's USDT following a substantial $280 million exploit. This move aims to bolster user recovery efforts and enhance platform security. The pivot underscores the volatile nature of the crypto ecosystem and the critical importance of stablecoin choice in maintaining user trust and operational stability after significant security incidents.